China to continue to cut overcapacity in steel sector in 2018

BEIJING - China will continue to cut excess capacity in the steel sector in 2018, National Development and Reform Commission (NDRC) Vice Chairman Ning Jizhe said at a news conference on Monday. China will cut steel capacity by 50 million tonnes and coal output by more than 150 million tonnes this year, according to a state planner work report at the opening of the annual meeting of parliament. -Reuters